COLA increase bill proceeds

COLA increase bill proceeds

The Louisiana House on Monday advanced legislation that would provide a one-time cost of living adjustment to public school employee pension checks.

The House voted 91-0 for the measure House Bill 46 sponsored by state Rep. Ed Price, D-Gonzales. The bill now moves to the state Senate.

HB46 would provide up to a 3.75 percent increase to some 6,923 retirees and their beneficiaries. The average age of the retirees is 76. The average per month pension check is $752 or $9,024 a year, each far below the federal poverty level.